Two-Building Office
For Sale
Contact for pricing
1915-1919 Colfax Ave, Denver, CO 80206
Office and retail functionality at a signalized corner with an additional leased building and surface parking.
Property Size11,632 SF
Lot Size0.50 Acres
Price / SF$154.32
Days on Market62
Property Features for 1915-1919 Colfax Ave
General Information
Standard status
Active
Size
11,632 SF
Total Parking Spaces
23
Lot size
0.50 Acres
Property subtype
OFFICE
Zoning
C-MS-5
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Shames Makovsky
(303) 534-5005
Listed By:
Solomon Stark
(303) 888-0002
Source:
Moodyscre
Added: Jul 17
Changed: Sep 5
Last Checked: Sep 15 at 8:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shames Makovsky
Investment Insights
Based on property information with market context.
This office property includes two buildings on a 21,670-square-foot lot. The primary building contains 10,704 square feet across two stories and is primarily built out for office use, with potential ground-floor retail use. The main building is available for lease from 5,352 to 9,104 square feet, while approximately 1,600 square feet on the second floor is occupied by an existing short-term tenant. A separate 928-square-foot building is leased to a phone store.
The property occupies the hard corner of the signalized intersection of High Street and East Colfax Avenue in Denver, with visibility along East Colfax and 23 surface parking spaces. C-MS-5 zoning supports office and retail functionality and is identified with long-term redevelopment potential. The overall property is offered for sale for an owner-user or investor.
The property occupies the hard corner of the signalized intersection of High Street and East Colfax Avenue in Denver, with visibility along East Colfax and 23 surface parking spaces. C-MS-5 zoning supports office and retail functionality and is identified with long-term redevelopment potential. The overall property is offered for sale for an owner-user or investor.
Key Highlights
- 10,704‑square‑foot two‑story primary building primarily built out for office use
- Separate 928‑square‑foot building leased to a phone store
- Main building available for lease from 5,352–9,104 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$159,229
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,184,580
$3.2M
Cap Rate 7%
$2,274,700
$2.3M
Cap Rate 9%
$1,769,211
$1.8M
Market Conditions
NOI Build-Up for 11,632 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$238.7K $20.52/SF
− Vacancy
−$11.2K −$0.96/SF
EGI
$227.5K $19.56/SF
− OpEx
−$68.2K −$5.87/SF
NOI
$159.2K $13.69/SF
Area
Denver, CO
Vacancy
4.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,184,580
Cap Rate 7%
$2,274,700
Cap Rate 9%
$1,769,211
Alternative Uses
Best Use
Office B
$2.43M
$2.13M – $2.84M
NOI $170,432 @ 7.0% cap · market cap 9.49%
Second Best
Retail
$2.27M
$1.99M – $2.65M
NOI $159,229 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,202 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 80206, CO
26,108
Population
15,580
Households
1.7
Avg Household Size
38
Median Age
78%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
10,443
Density / Sq Mi
$102,248
Median Household Income
$69,908
Median Earnings
$1,694
Median Rent
$892,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Denver, CO
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Frequently Asked Questions
What type of property is this?
Office building - Office and retail functionality at a signalized corner with an additional leased building and surface parking.
Where is this office building located?
The property is located at 1915-1919 Colfax Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 10,704‑square‑foot two‑story primary building primarily built out for office use; Separate 928‑square‑foot building leased to a phone store; Main building available for lease from 5,352–9,104 SF
